The Joint Money Laundering Steering Group (JMLSG) has published a revised version of the Asset Finance sectors in Part II of its guidance on the prevention of money laundering and the financing of terrorism for the UK financial services industry.
Continue Reading“We are not looking for perfection. We do not have thousands of inspectors going out and checking people’s homework. What we do have are millions of people that have new rights and they can make a complaint against a company to our office”.
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Last July we wrote this article about three recent cases of identity fraud in property sales. In each case a fraudster impersonated the vendor and then absconded with the proceeds paid by the would-be purchasers, leaving the latter to try and sue either their solicitors or the ones acting for the fraudster.
Continue ReadingWe reported in the Winter 2017 edition of the Briefing that we had been informed by BEIS that they were content with a revised form of the Business Contract Terms (Restrictions on Assignment of Receivables) Regulations, which were first proposed as long ago as December 2014.
Continue ReadingWhatever might eventually happen with Brexit, most informed observers will have recently had cause to reflect upon the differential between data protection law in the European Union and that in other advanced jurisdictions such as the US. The recent publicity involving Facebook has emphasised the fact that European Union law is light-years ahead of other mature jurisdictions in this respect.
Continue ReadingDo you have to reconsider a decision to dismiss an employee if you later find out she is pregnant? Ms Thompson was employed by Really Easy Car Credit, to do online telesales. She had worked there for a short time before discovering she was pregnant. During that time her performance was described as “average at best” and her employer raised various conduct issues with her. Ms Thompson took a day off sick. Unknown to her employer she went to hospital for a scan to find out whether she had miscarried.
Continue ReadingThe Supreme Court has decided that a head teacher, Ms Reilly was fairly dismissed for gross misconduct, for failing to disclose to her school’s governing authority the fact that she had a close relationship with a sex offender. The teacher argued that she was under no duty to disclose the relationship. There was no clear clause in her contract requiring her to report such a relationship. She did not live with the offender, although they owned a house together as an investment. They went on holiday together. She was a named driver on his car insurance. They were not partners, but their relationship was thought to be more than a financial one.
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In this article, Jon Davage outlines some pointers for those seeking acquisition opportunities via an insolvency process.
The folding of a company may be catastrophic for the stakeholders of the relevant company, but insolvencies provide buyers with the ability to acquire assets and valuable customer contracts at reduced prices. However, acquisitions of this type are not without their perils and often have hidden costs. Here are some issues to consider before you embark on this type of deal.
Continue ReadingA redundancy arises when there is a reduction in the employer’s requirements for employees to carry out work of a particular kind. Sometimes an employee whose role is redundant can be redeployed into another role in the organisation. The occupier of that second role can be fairly dismissed instead – even though their role is not redundant. This process is known as ‘bumping.’
Continue ReadingWhat is a partnership?
Put simply, a partnership is the coming together of two or more parties with a view to making a profit. Partnership is used for various purposes. It is common amongst the professions such as law firms, accountancy and medical practices. It can however be as simple as two or more people holding a property for letting purposes, and sharing the proceeds of the income of the property.
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